Malpractice Suit Over Botched Facebook Shares Sale Booted

Law360, New York (September 12, 2013, 2:42 PM EDT) -- A New York City judge tossed a $6.7 million legal malpractice suit against Littman Krooks LLP on Wednesday, ruling that the law firm had no duty to issue a legal opinion that would have cleared the way for two plaintiff corporations to cash in on Facebook Inc. shares.

Judge Joan M. Kenney also threw out as duplicative the allegations made by plaintiffs Facie Libre Associates I and II LLC, two related entities formed to invest in the Internet giant prior to its initial public offering, that...